Spur Corporation has delivered another solid half-year performance, driven by expansion across its portfolio and particularly strong growth from Panarottis. Revenue for the six months ended 31 December 2025 increased by 8.5% to R2.18 billion, while profit rose 12.4% to R172.58 million. Basic earnings per share advanced 13.9% to 203.61 cents.
Cost of sales rose 8.9% to R1.49 billion, marginally ahead of revenue growth, reflecting ongoing input cost pressures in the food sector.
Total restaurant sales across Spur’s brands reached R6.4 billion, with the core Spur steakhouse brand contributing R3.68 billion, up 7.2%. The group opened eight Spur restaurants during the period, including three international locations, bringing the brand’s footprint to 355 outlets.
Panarottis emerged as the standout performer, with sales rising 17.4% to R628.43 million. The Italian-themed chain added 11 restaurants, six in South Africa, increasing its total network to 150 stores. The growth reflects continued consumer appetite for casual dining concepts positioned around family value and shareable meals.
By contrast, John Dory’s remained under pressure, with restaurant sales declining 11.7% to R204.61 million and its footprint contracting to 86 outlets. Competitive intensity and shifting consumer preferences in the seafood category weighed on performance.
Across all brands, including RocoMamas and Doppio Zero, Spur’s total restaurant network expanded to 753 outlets, up from 724 in June 2025. According to industry data published by the Restaurant Association of South Africa, franchised restaurant models have shown greater resilience than independent operators amid rising operating costs and constrained consumer spending.
The group declared an interim dividend of 120 cents per share, up 13.2% year on year, signalling confidence in cash generation and balance sheet strength. Spur continues to pursue measured expansion, balancing domestic growth with selective international openings while managing cost pressures and competitive dynamics in South Africa’s restaurant sector.